I'm a Certified Public Accountant with broad experience in business taxation, finance and management. Most of my clients are small businesses. My practice serves a number of businesses incorporated as either S Corporations, C Corporations, Schedule C's (self-employed reporting on the 1040 form), or as LLC's or partnerships. Of course, no CPA's client roster is complete without a few Trusts and Not for Profit entities.
I also serve many clients who only need individual tax return preparation. During the Marriage Wars I developed a long roster of same sex couples as tax clients. Whatever someone's domestic status, there are many important tax matters people face regardless of whether they are single, married, Registered Domestic Partners, or just plain living together.
This being the electronic age, an increasing number of my clients are from outside of the Coachella Valley, where I live and practice. Most of these clients came through referral. Many of whom I've never met face-to-face. It all happens via phone, fax and e-mail. And sometimes snail mail.
Perhaps you've heard our commercials on KMOD FM, the American Songbook stations at 107.3, or on KNEWS Radio, FM 94.3 and 970 on the AM dial in the Coachella Valley. We started advertising with them, originally as a sponsor of the Bill Feingold Show, which we still sponsor, back during the depths of the recession. I intermittently appear on the station as a tax and business advisor, or when there's breaking news regarding taxes. Yes, there can be breaking news regarding taxes.
When it comes to taxes, the one thing on everyone's mind is the new tax legislation, which took effect January 1, 2018. The underlying premise of the tax legislation is "trickledown economics," a theory that if we give tax breaks to billionaires, everyone benefits more. This theory was disproven in the eighties, just as it will again be disproven. In the meantime, we're adding over a trillion dollars of debt to give these billionaires what they feel is their due. Corporate America is handing out nominal bonuses. They're not raising wages.
The ultra-wealthy just got a windfall. The W-2'd upper middle class just got ripped off. This legislation was designed to punish them. Many members of the working poor will see their Federal taxes go down by a few hundred dollars. But many members of the upper middle class will see their Federal taxes go up by thousands. And we're still adding a trillion dollars to the deficit.
However, some members of the middle class and upper middle class are actually going to like this tax bill. If you're self-employed either as a schedule C or through you're a flow-through entity such as an S Corporation or partnership, you will love this tax bill for completely selfish reasons. Most entrepreneurs got a tax break proportionate to what congress gave billionaires.
From a tax perspective, this is an excellent time to be an entrepreneur.
The Coachella Valley and its contiguous valleys are an excellent place to be an entrepreneur. We small business CPA's are a barometer of the local economy. Businesses across the valley have benefitted from the Coachella Valley becoming a year-'round tourist destination. The Coachella Valley has the world's attention as the greatest music festival venue. Even the slow months aren't dead like a decade ago.
These days my business clients are more concerned with maximizing profits and minimizing taxes than just making ends meet. They're thinking about improving the financial metrics of their business. I love this kind of work.
We've all heard talk of late that certain market indicators suggest the material possibility of a recession within the next 12 to 18 months. However, most of those positing this also qualify their analysis by stating that it would be more of a correction than anything like what happened a decade ago. While unfortunate, it wouldn't be a catastrophe. Mild recessions spur an increase in regional tourism as they deter national and international travel.
Unfortunately, the effect is not equal despite being the opposite. The very good news is that our region is becoming increasingly diverse. While benefiting from tourism, that and agriculture are no longer the only factors driving our economy. Many business owners and professionals in the valley aren't involved with either.
My CPA practice was built based on the belief that high quality accounting and tax services, using state-of-the-art software, doesn't have to cost a fortune. We assist our business clients, most of whom are on QuickBooks, to accurately manage their own accounting, allowing them accurate and timely financial information about their businesses at minimum cost. I care deeply about the tax strategy and profitability of my clients. My success is dependent upon your success.
I offer a full range of tax services and bill my clients at a competitive hourly rate, not by schedules on the return or by using "value billing." Billing clients by the schedule or using "value billing," a practice employed by some of my competitors, results in padded invoices and can add hundreds of dollars to the cost of preparing your tax returns, and sometimes more.
Whether you're a corporation, partnership, LLC, LLP, or an individual with a complex return, I'd like to help minimize your taxes at a fair price.
I invite you to take a look around my website and learn more about my practice. If you´re looking for a smart CPA who bills their clients fairly, don´t take my word for it, visit my client testimonials page. Then give me a call and let´s talk.
Interested in learning more?
firstname.lastname@example.orgMichael E. McGinnis71-780 San Jacinto Drive, Suite H2Rancho Mirage, CA92270
Phone (760) 341-5528
Fax (760) 341-5528